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Companies are expanding their budgets to accommodate the new lease accounting standard, turning to interim solutions, temporary employees and outside consultants, with many of them expecting to spend millions of dollars on the effort, according to a new survey by Ernst Young. Almost half the companies polled by EY anticipate a cost between $1 million […]
The Virginia Society of CPAs has launched its new Center for Innovation, part of its future-forward “VSCPA2025” initiative. The Center for Innovation is an online resource offering learning and engagement programs to help professionals navigate the fields of technology and talent. Technology resources will help VSCPA members “adapt to, embrace and leverage rapidly changing technologies,” […]
The Public Company Accounting Oversight Board has been pilot testing its upcoming requirements for auditors to disclose “critical audit matters” in their audit reports, helping them fine-tune how the process will work. PCAOB deputy chief auditor Jennifer Rand Last year, the PCAOB adopted a long-awaited standard for enhancing the usefulness of the auditor’s report by […]
The American Institute of CPAs’ Auditing Standards Board voted to issue a long-awaited standard on audits of financial statements of employee benefit plans, although it is still awaiting some details before the standard takes effect. Photo: AICPA The Statement on Auditing Standards Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject […]
Mark Weinberger, the global chairman and CEO of Ernst Young, is planning to step down July 1, 2019, after six years running EY’s global network. Weinberger has been an influential voice in both accounting circles, as well as in Washington, D.C., where he was Assistant Secretary of the Treasury for Tax Policy during the George […]
French President Emmanuel Macron could introduce emergency tax cuts to quell violent protests, a move that risks worsening the country’s budget deficit. The government is increasingly worried that the economy, alongside its own political fortunes, is threatened by demonstrations against fuel taxes that have spiraled into a pushback against Macron’s policies. Finance Minister Bruno Le […]
Innovation is a sizzling hot topic in our industry, the subject of countless articles, conferences and memos from managing partners. Much of what I read and hear, however, focuses on how to be more innovative, and fails to address the foundation upon which innovation is built. And that is product management. Product management is a […]
For many years, software for nonprofit organizations trailed in functionality behind other verticals and especially more generic accounting software. Over the past several years, though, this has changed significantly. Today’s nonprofit software is as up to date and functional as any software available. We surveyed many of the major vendors of nonprofit software to find […]
Why do people go into business? Some open bakeries because they love to bake, or become contractors because they like to build, or set up factories because they imagine a product no one else was making, or sell cars or real estate or stocks because they enjoy the validation of convincing the customer that they […]
BlackLine releases compliance product BlackLine, which makes software for the financial close, has released a new compliance product for managing internal controls in large and midsized companies. BlackLine Compliance integrates risks, policies and procedures, controls, issues and audit programs in a unified, cloud-based system.The product aims to accelerate and simplify audits, consolidate project management and […]
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